[Federal Register Volume 86, Number 190 (Tuesday, October 5, 2021)]
[Notices]
[Pages 54973-54974]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-21596]


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FEDERAL RESERVE SYSTEM


Agency Information Collection Activities: Announcement of Board 
Approval Under Delegated Authority and Submission to OMB

AGENCY: Board of Governors of the Federal Reserve System.

SUMMARY: The Board of Governors of the Federal Reserve System (Board) 
is adopting a proposal to extend for three years, without revision, the 
Policy Impact Survey (FR 3075; OMB No. 7100-0362).

FOR FURTHER INFORMATION CONTACT: 
    Federal Reserve Board Clearance Officer--Nuha Elmaghrabi--Office of 
the Chief Data Officer, Board of Governors of the Federal Reserve 
System, Washington, DC 20551, (202) 452-3829.
    Office of Management and Budget (OMB) Desk Officer for the Federal 
Reserve Board, Office of Information and Regulatory Affairs, Office of 
Management and Budget, New Executive Office Building, Room 10235, 725 
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.

SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board 
authority under the Paperwork Reduction Act (PRA) to approve and assign 
OMB control numbers to collections of information conducted or 
sponsored by the Board. Board-approved collections of information are 
incorporated into the official OMB inventory of currently approved 
collections of information. The OMB inventory, as well as copies of the 
PRA Submission, supporting statements, and approved collection of 
information instrument(s) are available at https://www.reginfo.gov/public/do/PRAMain. These documents are also available on the Federal 
Reserve Board's public website at https://www.federalreserve.gov/apps/reportforms/review.aspx or may be requested from the agency clearance 
officer, whose name appears above.

Final Approval Under OMB Delegated Authority of the Extension for Three 
Years, Without Revision, of the Following Information Collection

    Report title: Policy Impact Survey.
    Agency form number: FR 3075.
    OMB control number: 7100-0362.
    Frequency: On occasion.
    Respondents: Bank holding companies, savings and loan holding 
companies, any nonbank financial company that the Financial Stability 
Oversight Council has determined should be supervised by the Board, and 
the combined domestic operations of foreign banking organizations.
    Estimated number of respondents: 14.
    Estimated average hours per response: 700.
    Estimated annual burden hours: 68,600.
    General description of report: This survey collects information 
from certain types of institutions regulated by the Board in order to 
assess the effects of proposed, pending, or recently adopted policy 
changes at the domestic and international levels. The Board uses the 
survey to collect information used for certain quantitative impact 
studies (QISs) \1\ sponsored by financial stability bodies such as the 
Basel Committee on Banking Supervision (BCBS) and the Financial 
Stability Board. Recent collections have included the Basel III 
monitoring exercise, which monitors the global impact of the Basel III 
framework,\2\ the global systemically important bank (G-SIB) exercise, 
which assesses firms' systemic risk profiles,\3\ and a survey of the 
domestic systemic risk footprint of large foreign banking 
organizations. Since the collected data may change from survey to 
survey, there is no fixed reporting form.
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    \1\ A QIS is a survey of financial institutions that allows 
supervisors to assess the quantitative impact of policy changes.
    \2\ For more information on the Basel III monitoring exercise, 
including recent examples of QISs sponsored by BCBS and conducted by 
the Board, see www.bis.org/bcbs/qis/.
    \3\ For more information on the G-SIB exercise, see www.bis.org/bcbs/gsib/.
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    Legal authorization and confidentiality: Information collected 
under the FR 3075 is authorized by the Board's reporting authorities, 
which are located in section 5(c) of the Bank Holding Company Act \4\ 
for bank holding companies and their subsidiaries, section 10(b)(2) of 
the Home Owners' Loan Act \5\ for savings and loan holding companies 
and their subsidiaries, section 161(a) of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act \6\ for nonbank financial companies 
supervised by the Board, section 8(a) of the International Banking Act 
and section 5(c) of the Bank Holding Company Act \7\ for the combined 
domestic operations of certain foreign banking organizations, section 9 
of the Federal Reserve Act \8\ for state member banks, sections 25 and 
25A of the Federal Reserve Act \9\ for Edge and agreement corporations, 
and section 7(c)(2) of the International Banking Act and section 7(a) 
of the Federal Deposit Insurance Act \10\ for U.S. branches and 
agencies of foreign banks. Response to the FR 3075 is voluntary.
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    \4\ 12 U.S.C. 1844(c).
    \5\ 12 U.S.C. 1467a(b)(2).
    \6\ 12 U.S.C. 5361(a).
    \7\ 12 U.S.C. 3106(a) and 1844(c).
    \8\ 12 U.S.C. 324.
    \9\ 12 U.S.C. 602 and 625.
    \10\ 12 U.S.C. 3105(c)(2) and 1817(a).
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    The questions asked on each survey will vary. The Board's ability 
to keep confidential responses to the FR 3075 must therefore be 
determined on a case-by-case basis. To the extent responses include 
nonpublic commercial or financial information, which is both 
customarily and actually treated as private by the respondent, such 
information may be kept confidential pursuant to exemption 4 of the 
Freedom of Information Act (FOIA).\11\ Some survey responses may also 
contain information contained in or related to an examination of a 
financial institution, which may be kept confidential under exemption 8 
of the FOIA.\12\ To the extent a respondent submits personal, medical, 
or similar files, the disclosure of which would constitute an 
unwarranted invasion of privacy, the respondent may request 
confidential treatment pursuant to exemption 6 of the FOIA.\13\
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    \11\ 5 U.S.C. 552(b)(4).
    \12\ 5 U.S.C. 552(b)(8).
    \13\ 5 U.S.C. 552(b)(6).
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    Aggregate survey information from the FR 3075 is not considered 
confidential and may be cited in published material such as Board 
studies or working papers, proposed or final rules, professional 
journals, the Federal Reserve Bulletin, testimony and reports to the 
Congress, or other vehicles.
    Current actions: On May 26, 2021, the Board published a notice in 
the Federal Register (86 FR 28345) requesting public comment for 60 
days on the extension, without revision, of the Policy Impact Survey, 
FR 3075. The comment period for this notice expired on July 26, 2021. 
The Board did not receive any comments.


[[Page 54974]]


    Board of Governors of the Federal Reserve System, September 29, 
2021.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2021-21596 Filed 10-4-21; 8:45 am]
BILLING CODE 6210-01-P